On September 6, 2002, the Bureau of Labor Statistics (BLS) reported that the unemployment rate fell from 5.9 to 5.7 percent. It's the lowest rate since March, indicating that late summer hiring slightly offset layoffs.

According to CBSMarketWatch, economists were surprised that the unemployment rate dropped, since they were expecting it to again rise to 6 percent, as it did in April. By midday trading, Wall Street was celebrating with higher stock prices, countering several days of dropping prices. Treasury prices dropped, indicating that investors' concerns over the struggling economy were somewhat relieved.

But Wall Street plays by different rules. The more-conservative BLS said that job gains were largely offset by losses in manufacturing and retail, with nonfarm employment showing a net gain of only 39,000. But on a more positive note, it was an increase for the fourth month in a row, for a total gain of 162,000. Total employment rose by 429,000, after seasonal adjustment.

The BLS also reported that the number of persons unemployed for 15 weeks or more in August was down from the recent, June high of 3.1 million. August ended with 2.8 million, but at 8.1 million, the total number of unemployed persons was essentially unchanged.

Industries showing August employment gains included

• Construction
• Government
• Health services
• Temporary help services

Construction employment increased by 34,000 in August. But total employment was essentially the same as it was in April.

The Federal government added 20,000 jobs, mostly because of it's new role in airport security employment. Local government gained 34,000 jobs mostly in education, while state education employment offset it by losing 20,000 jobs.

Services added 100,000 jobs overall, with temporary help comprising the bulk at 51,000 jobs. This followed a decline of 30,000 in July. But employment in this industry has risen by 165,000 since February, after several previous months of declines.

Health services gained 26,000 jobs in August. This industry has been hiring all along, averaging about the same monthly gain over the past 12 months. If you're having trouble finding a job elsewhere, it's a good place to look. Healthcare needs techies just like any other industry, and even more so than some. So does government.

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